sur EXCLUSIVE NETWORKS (EPA:EXN)
Exclusive Networks Reviews Tender Offer Amid AMF Examination
Exclusive Networks announced the submission of a draft response document to the French financial market authority (AMF) on January 16, 2025. The document concerns a simplified tender offer initiated by Etna French Bidco to acquire all Exclusive Networks' shares that it does not already own. The offer, priced at EUR 18.96 per share, follows the acquiring of a 66.66% majority stake in the company by Etna French Bidco.
The offer, subject to AMF approval, includes a squeeze-out provision should minority-owned shares fall below 10% after the offer. An independent expert, Finexsi, assessed the offer as fair from a financial standpoint, considering the significant premium it represents over historical share prices.
Exclusive Networks' Board recommends shareholders tender their shares to this offer, highlighting financial attractiveness and alignment with strategic intentions conveyed by Etna French Bidco. Details regarding shareholder intentions and the offer timetable are included in the draft response document.
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